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For the purpose of pinpointing the period of time to become as opposed for risk cost-free return and risk quality, investment decision life of the undertaking need to be regarded. Due to the fact lodging property, like lodges, had lengthy handy life, return on long-term authorities bonds really should be used for lodging calculations, which should be from your interval 1926 to 1987 (exhibit five of the case) as this properly reflects the bottom line character of return using a long term perspective like all abnormalities in the course of this period.

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